Bloomberg News

IMF Board Approves $7 Million Disbursement for Liberia

June 28, 2011

June 28 (Bloomberg) -- The International Monetary Fund completed a review of Liberia’s economic performance under the extended credit facility, which will enable a disbursement equivalent to about $7 million to the African nation.

The IMF’s board also approved authorities’ request for an extension of the arrangement through March 31, 2012, and an increase in funds for access by about $13 million.

“The Liberian authorities continue to implement sound macroeconomic policies and are making progress with their broad- based reform program,’’ the fund said in an e-mailed statement. “Growth is expected to pick up in 2011, bolstered by increasing foreign investment, the reserve position is comfortable, and inflation is projected to remain broadly stable despite rising commodity prices.”

To contact the editor responsible for this story: Victoria Batchelor at vbatchelor@bloomberg.net


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